Banks almost tripled bonuses for junior staff to keep hold of their young employees

Donations
by devotees are seen on a statue of baby Jesus at a church
during a special mass on Christmas day in Colombo December 25,
2013.REUTERS/Dinuka
Liyanawatte

Banks hiked bonuses for their most junior workers by as
much as 150% in an effort to keep hold of young, talented
employees.

Average bonuses for analysts – the first rung on the
investment banking career ladder – zoomed up to £15,000
($21,600) this year from £6,000, according to a survey by
crowdsourced pay data website Emolument.com.

Meanwhile, more senior staff had their bonuses slashed.

Director-level payouts took a 33% hit, down from £150,000
to £100,000 on average.

Alice Leguay, co-founder at Emolument.com, said: "Inspiring
Generation Z to take up a career in banking is a challenge,
especially considering the serious downside and risk of being
exposed to legal proceedings as regulation and legal
enquiries come into play, the weight and stress of dealing
with compliance processes and the lack of glamour of an
industry largely held in contempt by the public and the press."

Here's the chart:

Emolument

The survey is based on responses from 2,500 employees working
in the UK for JP Morgan, Bank of America Merrill Lynch,
Citigroup, BNP Paribas, Credit Suisse, Morgan Stanley,
Barclays, Deutsche Bank, and RBS.